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Indian people consider owning their own home as the biggest achievement. However, property prices are so high these days that even thinking about owning a home can put you in tension. Especially if you are thinking of buying your own house in Delhi NCR, then you will have to empty your entire treasury. It is possible that even after this you may not have enough money to buy property here. Let us know in this news how much the property rates have increased in Delhi NCR from the year 2019 till now.
Property rates increased by 152%
Currently, property rates are skyrocketing in Noida and Greater Noida. According to the report of PropEquity, there has been a jump of 152 percent in the property rates of Noida as compared to the year 2019. While in 2019, the price per square foot in Noida was Rs 5,910, in September 2024, the price per square foot was Rs 14,946.
Talking about Ghaziabad, here too an increase of 139 percent has been seen in property rates as compared to 2019. Here, where the price of one square foot was Rs 3691 in 2019, it will become Rs 8823 in September 2024. Talking about Gurugram, here too there has been a jump of 135 percent in property rates. In the year 2019, the price of square feet here was Rs 8,299, which increased to Rs 19,535 in September 2024.
Similarly, a rise in property rates has been seen in Greater Noida also. According to the report, an increase of 121 percent was seen in property prices in Greater Noida as compared to 2019. In 2019, the price of square feet property here was Rs 3900, which reached Rs 8601 per square feet in September 2024.
Why are prices increasing in Noida and Greater Noida?
Talking about the reason behind the rising property prices in Noida and Greater Noida, according to experts, due to the projects like expansion of metro lines, expressways and the upcoming Jewar airport, the property prices are witnessing a rise. . The biggest thing is that even after the increase in property prices, the demand for houses has increased here. Especially the demand for luxury and ultra-luxury homes has increased the most.
According to a report by Magicbricks, there has been an increase in demand for ultra-luxury homes priced above Rs 3 crore in these cities. 3 out of every 10 Indians are moving towards purchasing premium homes. The same thing is coming out in the report of Enrock also. According to this, now people are giving more preference to buying 3 and 4 BHK houses than small flats.
